Los Angeles Business Journal

Faraday Future Claims Electric Car Has More Than 64,000 Reservations

By Garrett Reim Friday, January 6, 2017

Faraday Future said that 64,124 reservations were placed for its FF 91 electric SUV within 36 hours of the vehicle’s unveiling at the Consumer Electronics Show in Las Vegas.

The company did not disclose what portion of those reservations included a down payment of $5,000 and how many where placed for free. The $5,000 reservation gives prospective buyers priority placement in line as well as chance to buy a special edition of the FF 91, which the company plans to release this spring.

The manufacturer’s first production car is 1,050-horsepower, crossover-style luxury vehicle that is estimated to cost more than $180,000 and is planned to go on sale in 2018.

Faraday Future is looking to use the unveiling of its electric vehicle to rebound from difficulties in 2016, including a cash shortage, which caused it to freeze construction on its $1 billion Las Vegas factory, and an exodus of senior executives.

Send tips on L.A. tech companies and startups to reporter Garrett Reim via greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.